CBSE (Central Board of Secondary Education- Board Exam) Class-12 Economics: Questions 269 - 275 of 523

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Question number: 269

» National Income and Related Aggregates » Methods of Calculating National Income » Expenditure Method

Essay Question▾

Describe in Detail

A consumer buys 50 units of a good at a price of Rs. 10 per unit. When price falls to Rs. 5 per unit he buys 100 units. Find out price elasticity of demand by the ‘Total Expenditure Method’.

Explanation

Elasticity of demand by the Total Expenditure Method.

In this table elasticity of demand by the Total Expenditure Method.

Price (P)

Quantity (Q)

T. E. =P * Q

50

10

500

5

100

500

Since the total expenditure does not change with the change in price, thus price elasticity of

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Question number: 270

» National Income and Related Aggregates » Personal Income

Essay Question▾

Describe in Detail

Calculate Personal Income from the following data:

Calculate Personal Income

Calculate Personal Income in detail.

-

( Rs. crores)

Undistributed profits of corporations

20

Net domestic product accruing to the private sector

500

Corporation tax

55

Net factor income from abroad

(-) 10

Net current transfers from government

15

National debt interest

40

Net current transfers from the rest of the world

15

Explanation

Personal Income = Net domestic product accruing to the private sector + Net factor income from abroad + Net current transfers from government + Net current transfers from the rest of the world + National debt interest - Corporation tax - Undistributed profits of corporations

Calculation of Personal Income

calculation

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Question number: 271

» Producer Behaviour and Supply » Production Function

Essay Question▾

Describe in Detail

Distinguish between Marginal utility and Total utility

Explanation

Distinguish between Marginal utility and Total utility

In detail Marginal utility and Total utility difference.

Marginal utility

Total utility

Marginal utility is the satisfaction that we get from consuming another quantity of a good or service.

Total utility is the total satisfaction that we get from consuming a given total

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Question number: 272

» Consumer's Equilibrium and Demand » Demand » Determinants of Demand

Short Answer Question▾

Write in Short

Give meaning of Excess demand.

Question number: 273

» Determination of Income and Employment » Meaning & Types of Employment & Unemployment

Essay Question▾

Describe in Detail

Explain the term ‘compensation of employees’.

Explanation

“Compensation of employees” is a measure of the compensation paid by company owner. It excludes compensation paid to the rest of the world, and it includes compensation received from the rest of the world.

“Compensation of employees, received” is similar to “compensation of employees” in that it measures the compensation

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Question number: 274

» Producer Behaviour and Supply » Revenue

Short Answer Question▾

Write in Short

Give meanings of marginal revenue

Question number: 275

» Producer Behaviour and Supply » Cost

Essay Question▾

Describe in Detail

On the basis of the information given below, determine the level of output at which the producer will be in equilibrium. Use the marginal cost – marginal revenue approach. Give reasons for your answer

marginal cost and marginal revenue

Calculate marginal cost and marginal revenue

Output (units)

Average Revenue (Rs)

Total Cost (Rs)

1

7

8

2

7

15

3

7

21

4

7

26

5

7

33

6

7

41

Explanation

marginal cost and marginal revenue

Calculate marginal cost and marginal revenue

Output (units)

Average Revenue (Rs)

Total Cost (Rs)

Marginal cost

Marginal revenue

1

7

8

-

7

2

7

15

7

7

3

7

21

6

7

4

7

26

5

7

5

7

33

7

7

6

7

… (57 more words) …

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